Good morning, Dev Test County. The Dallas-Fort Worth housing market is undergoing a dramatic shift that's being felt by everyone from buyers to builders. With median home prices falling 4.6% over the last year and properties sitting on the market nearly two weeks longer than last May, we're witnessing a standoff between hesitant buyers facing 7% interest rates and sellers reluctant to accept lower prices—many opting to become landlords instead.
Meanwhile, congratulations are in order for Jennifer Nelms, First Federal Community Bank's senior VP who recently completed the prestigious Southwest Graduate School of Banking program at SMU. The Paris native's achievement stands in contrast to EdgeConneX's setback in Lancaster, where city commissioners rejected plans for a massive 2-million-square-foot data center complex. The vote represents a significant roadblock for the company's expansion efforts in our increasingly tech-focused region.
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0%☕️ What's Brewing Locally
🏠 Dallas-Fort Worth housing market squeezes everyone. Median home prices are falling faster in Dallas than almost anywhere else, dropping 4.6% over the last year. Homes now sit on the market for 86 days—11 days longer than last May—as economic uncertainty and 7% interest rates keep buyers hesitant. Many would-be sellers are opting to rent their properties rather than accept lower prices, with some even double-listing homes for sale or rent. Builders face challenges too, with a growing inventory of unsold speculative homes forcing price discounts and triggering layoffs.
🏦 Banking leader Jennifer Nelms completes prestigious graduate program at SMU. The First Federal Community Bank's senior vice president and chief credit officer graduated from the Southwest Graduate School of Banking, a three-year program developing future banking leaders. Nelms, a Paris native with BBA and MBA degrees from Texas A&M-Commerce, has worked at First Federal since 2009 in various positions. Bank President Brad Meyers praised her accomplishment, calling her "a valued member of our executive team" with keen banking insights. First Federal Community Bank is currently celebrating its 103rd year serving northeast Texas.
🏢 EdgeConneX data center faces rejection in Lancaster. The company's ambitious plan to build over 2 million square feet of data center space on a 165-acre site hit a roadblock when the city commission voted against rezoning. This development represents a significant setback for EdgeConneX's expansion efforts in the Dallas-Fort Worth area. The proposed complex would have been a major addition to the region's growing data center market. Lancaster officials appear unconvinced by the project despite increasing investment in data centers across the metroplex.
🏡 Real Estate Reveals |
PRESENTED BY Amy Jackson, CENTURY 21 |
Country Duplex Investment Gem: Priced at $275,000, this country duplex offers two vacant 3-bedroom units with attached garages, providing a solid investment opportunity or multi-family living arrangement in a peaceful setting.
Remodeled lakeside retreat near trails: For $119,900, this cozy, recently remodeled two-bedroom home in Brady Lake offers one-level living with updated features, a sunroom overlooking the yard, and convenient access to Beckwith Apple Orchard and The Portage Hike & Bike Trail.
Affordable ranch with desirable features: This ranch home, priced at $115,000, offers charming simplicity with two bedrooms, wood floors, and a partially finished basement, plus outdoor amenities including a large rear deck and two-car garage.🗓️ Happenings & Hoopla
🍞 Daily Bread Crumb |
PRESENTED BY Northbend Church |
I can do all things through Christ who strengthens me.
-Philippians 4:13
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